Fi, a fintech firm that hosts a neo-banking platform, has announced a $45 million funding round. Alpha Wave Ventures led the Series A funding round.
The latest funding comes after the Bengaluru-based startup raised $50 million in November 2021 at a valuation of $315 million.
Ex-Google Pay executives Sujith Narayanan and Sumit Gwalani founded the Bengaluru-based start-up, formerly known as epiFi, in 2019. It aims to alleviate the banking woes of digital-first consumers such as working professionals and students.
Until early 2022, the company was focused on providing banking products in collaboration with Federal Bank, allowing customers to open a savings account, obtain a debit card, and open a fixed deposit via its app.